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Home And Laundry Care Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global home and laundry care products market was valued at USD 131.3 billion in 2022 and is expected to register a CAGR of 5.2% from 2023 to 2030. The increasing awareness of hygiene and health among consumers is the major factor driving the growth of the market. The rising disposable income of people across the globe is encouraging the use of home and laundry care products. Furthermore, the rising number of working women, who are increasingly opting for quick and convenient cleaning solutions, is fueling the growth of the market.
The laundry care products segment is expected to be the largest segment in terms of revenue for the market during the forecast period. The segment consists of detergents, fabric softeners, pre-treatment products, and other products. The growing awareness of personal hygiene is boosting the demand for laundry care products. In addition, the increasing preference for eco-friendly products is driving the demand for laundry care products. The increasing availability of laundry care products in different forms, such as liquid, powder, and tablets, is boosting the growth of the segment.
The home care products segment is expected to witness a considerable growth during the forecast period. Home care products include products such as dishwashing detergents, toilet cleaners, multi-purpose cleaners, and other products. The increasing adoption of home care products due to the rising hectic lifestyle of people is driving the segment growth. The rising demand for eco-friendly home care products is further propelling the segment growth. Furthermore, the increasing penetration of home care products in rural areas is expected to support the segment growth during the forecast period.
The increasing penetration of e-commerce is driving the growth of the market. The availability of various offers on home and laundry care products is boosting the sale of these products through e-commerce. For instance, in June 2021, Amazon India announced the launch of a new store on its platform called ‘Laundry & Home Care Store’ to offer a wide range of home and laundry care products including detergents, dish washers, fabric softeners, and laundry baskets. Furthermore, the increasing number of product launches is expected to fuel the growth of the market. For instance, in October 2021, P&G launched a new liquid detergent, Ariel Matic Front Load, in India. The product is said to be specially designed for front-load washing machines.
Product Insights
The laundry care segment accounted for the largest share of the market in 2022, driven by rising consumer demand for convenient and effective laundry detergents. The demand for laundry care products is growing due to increasing awareness of the need for effective laundry detergents and the development of new products with improved performance. Furthermore, growing awareness of the harmful effects of using harmful products such as bleach and other chemicals on clothes is driving the demand for laundry care products. According to an article published by Marketwatch, in April 2020, the laundry care market is estimated to reach USD 132.4 billion by 2027.
The home care segment is expected to expand at the fastest CAGR of 7.2% over the forecast period. Growing awareness of the need for hygiene and cleanliness, changing lifestyle, increasing demand for multipurpose products, and growing disposable income are some of the key factors contributing to the growth of the home care segment. According to an article published by Euromonitor, in May 2020, the demand for home care products is expected to reach USD 75.9 billion by 2024. Moreover, the increasing trend of purchasing convenience products and rising environmental concern are some of the other factors driving the demand for home care products.
Distribution Channel Insights
The supermarkets and hypermarkets segment held a major share of over 47.3% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase Home and Laundry Care products. According to a study by Datamonitor in 2021, more than 80% of consumers prefer buying these products from supermarkets & hypermarkets due to the convenience of shopping and availability of multiple products under one roof. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required product.
The online segment is anticipated to expand at the highest CAGR of 12.7% over the forecast period. E-commerce development in the Home and Laundry Care industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in March 2022, Amazon launched its Home and Laundry Care Store offering a wide range of products from leading brands like Tide, Seventh Generation, and many more. The store offers free shipping on orders over $49 and an easy return policy for customers. In addition, it also offers exclusive discounts and deals for customers on selected products.
Type Insights
The laundry care segment accounted for the largest revenue share of 58.5% in the year 2022. The increasing awareness among consumers regarding the availability of products to clean and maintain the fabric has significantly increased the demand for laundry care products. Additionally, the surge in the number of working women has increased the demand for convenience laundry care products, such as detergents, fabric softeners, and bleach. Furthermore, the increasing trend of online shopping for laundry care products is likely to propel the market growth in the forecasted period.
The home care segment is forecasted to expand at the highest CAGR of 10.2% over the forecast period. The increasing awareness about the benefits and advantages of home care products, such as air fresheners and insecticides, has propelled the demand for home care products. Furthermore, the rising disposable income of consumers is likely to boost the demand for home care products. The shift in the preferences from manual cleaning products to more convenient home care products is driving the market demand. For instance, in April 2022, SC Johnson, a leading home and laundry care company, launched a new product, Sun Fresh Multi-Surface Cleaner, which is an all-in-one cleaning solution for removing dirt and grime from multiple surfaces with one product.
Regional Insights
The Asia Pacific is expected to dominate the global home and laundry care products market and account for the largest revenue share of over 40.4% in 2022. The increasing population and rising disposable incomes of middle-class consumers in the region are some of the key factors driving the growth of the market. China and India are the major contributors to the regional market, owing to the presence of prominent industry players and an increasing number of new players in these markets. Moreover, the growing demand from countries such as Korea and Japan is also contributing to the growth of the region.
The North American market is expected to witness the second-fastest growth in the coming years. Increasing awareness about hygiene and health is a major factor driving the market in the region. The presence of prominent industry players, such as Procter & Gamble, Unilever, and Church & Dwight, is further expected to boost the growth of the market. Additionally, the increasing adoption of sustainable products and rising demand for natural home and laundry care products are also supporting the growth of the market.
Financial Projections
In this part of the home and laundry care products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a home and laundry care products business comes from sales of products. This includes sales of both physical products as well as digital products such as e-books and online courses. Additionally, income can also come from affiliation deals, sponsorships, and online advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the home and laundry care products business running will be described. The list of operating expenses includes payroll, taxes, rent, inventory, advertising, marketing, website development and maintenance, and others. Additionally, you will have to consider the cost of purchasing the products to be sold, shipping costs, and costs associated with distribution of products.
Key companies & market share insights
Some of the key companies operating in the home and laundry care products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In August 2022, Unilever launched a new range of laundry detergents, including a liquid detergent, a powder detergent, and a fabric softener.
– In July 2022, The Procter & Gamble Company launched the Tide PODS Plus Downy laundry detergent, which features Tide’s cleaning power combined with Downy fabric softener.
– In September 2022, Church & Dwight Co., Inc. launched OxiClean Versatile Stain Remover, a laundry booster that removes tough stains and odors.
Some of the prominent players in the home and laundry care products market include:
– Unilever
– The Procter & Gamble Company
– Church & Dwight Co., Inc.
– Reckitt Benckiser Group plc
– Henkel AG & Co. KGaA
– Kao Corporation
– S. C. Johnson & Son, Inc.
– The Clorox Company
– The Colgate-Palmolive Company
– Ecolab, Inc.
Global Home And Laundry Care Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global home and laundry care products market based on product, distribution channel, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Cleaners
– Detergents
– Fabric Softeners
– Disinfectants
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Home and Laundry Care Products Market?
[A]: The home and laundry care products market is driven by the rising number of households, increasing disposable incomes, price competition in the market, and an increase in product innovations. The convenience of using home and laundry care products is also driving their demand.
[Q]: Who are the Key Players in the Home and Laundry Care Products Market?
[A]: Key players in the home and laundry care products market include Procter & Gamble, Unilever, Kao Corporation, Henkel, Reckitt Benckiser, Church & Dwight, and SC Johnson.
[Q]: What are the Major Products in the Home and Laundry Care Products Market?
[A]: Major products in the home and laundry care products market include laundry detergents, fabric softeners, dishwashing detergents, and other home and laundry care products such as cleaning agents, bleaches, polishing agents, and others.
[Q]: What are the Regional Opportunities for Home and Laundry Care Products?
[A]: The Asia-Pacific region is expected to be the largest and the fastest-growing market for home and laundry care products during the forecast period. The increasing demand for home and laundry care products in developing countries such as India, China, and Indonesia, is expected to drive the market.
[Q]: What are the Trends in Home and Laundry Care Products?
[A]: Growing consumer awareness about health and environment is driving the demand for eco-friendly and biodegradable home and laundry care products. Manufacturers are focusing on developing products that are safe for humans, animals, and the environment. The use of natural ingredients, such as plant-based enzymes, is also increasing in home and laundry care products.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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